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2018-03-13 13:45:03

BBBY

Bed Bath & Beyond

$22.67

0.21 (0.93%)

13:45

03/13/18

03/13

13:45

03/13/18

13:45

Bed Bath & Beyond call volume above normal and directionally bullish

Bullish option flow detected in Bed Bath & Beyond with 3,431 calls trading, 2x expected, and implied vol increasing over 3 points to 51.37%. May-18 25 calls and Mar-18 23 calls are the most active options, with total volume in those strikes near 2,800 contracts. The Put/Call Ratio is 0.23. Earnings are expected on April 11th.

Loop Capital analyst Anthony Chukumba lowered his FY18 EPS estimate on Bed Bath & Beyond (BBBY) to $2.46 from $2.63, saying Amazon (AMZN) has become more aggressive in its pricing strategy. The analyst says that his latest study across a basket of 50 items for both companies suggests that Bed Bath & Beyond prices were on average 19.8% more expensive than Amazon, which was wider than the 12.2% average price discrepancy in October. When applying the Bed Bath 20% off coupon, prices were more expensive for 38% of the products and less expensive on 60% of the products. Chukumba keeps his Hold rating and $23 price target on Bed Bath & Beyond.

01/26/18

JPMS

01/26/18DOWNGRADETarget $18JPMSUnderweight

Bed Bath & Beyond downgraded to Underweight from Neutral at JPMorgan

JPMorgan analyst Christopher Horvers downgraded Bed Bath & Beyond to Underweight and cut his price target for the shares to $18 from $21. The stock has run up 16% since the House passed the tax bill in November, and recent estimate revisions suggest the Street is assuming 50% flow through of tax savings, Horvers tells investors in a research note. He believes this could prove aggressive given the "beefed up" competition in the home furnishings space and Bed Bath's need to invest in price, advertising, and infrastructure. The analyst does not see a turn "in sight" for the company's comps.

01/26/18

01/26/18DOWNGRADE

On The Fly: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Starbucks (SBUX) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Karen Holthouse removed Starbucks (SBUX) from the Conviction Buy List citing another reduction in estimates and risks to back-half weighted guidance. 2. Bed Bath & Beyond (BBBY) downgraded to Underweight from Neutral at JPMorgan with analyst Christopher Horvers saying the stock has run up 16% since the House passed the tax bill in November, and recent estimate revisions suggest the Street is assuming 50% flow through of tax savings. 3. Whirlpool (WHR) downgraded to Sector Weight from Overweight at KeyBanc with analyst Kenneth Zener citing expectations the stock's past trading range will hold. 4. Newell Brands (NWL) downgraded to Sector Perform from Outperform at RBC Capital with analyst Nik Modi saying the forward estimates no longer appear trustworthy after the company's third downward revision in guidance in less than six months. 5. Fortinet (FTNT) downgraded to Market Perform on valuation at Raymond James with analyst Michael Turits citing strong relative shares performance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Loop Capital analyst Anthony Chukumba keeps his Hold rating and $23 price target on Bed Bath & Beyond but raises his FY18 EPS forecast by 8.8%. Chukumba notes the latest press speculation that Toys 'R Us plans to close another 200 stores and lay off a significant portion of its corporate staff, estimating up to 25c in annual related accretion to Bed Bath & Beyond through higher market share for its buybuy Baby concept.

Deutsche Bank's (DB) supervisory board debated the merits of a potential tie-up with Commerzbank (CRZBY) for three hours at a meeting on Thursday, Reuters reports, citing a person with direct knowledge of the matter. Deutsche Bank CEO Christian Sewing told the board about the possible deal and said that the bank was at the start of doing due diligence, the report says. Reference Link

Bullish option flow detected in PayPal with 19,643 calls trading, 2.0x expected, and implied vol increasing over 2 points to 24.97%. 3/22 weekly 103 calls and Apr-19 101 calls are the most active options, with total volume in those strikes near 11,400 contracts. The Put/Call Ratio is 0.20. Earnings are expected on April 24th.